Kingfisher Airlines faces trading suspension from December 1

Mumbai: India's two main stock exchanges will suspend trading of shares of grounded Kingfisher Airlines Limited from December 1 for failing to comply with rules on reporting financial results, the bourses said in separate notices.

Mumbai: The country's two main stock exchanges-- the Bombay Stock Exchange and the National Stock Exchange of India Ltd-- will suspend trading of shares of grounded Kingfisher Airlines Limited from December 1 for failing to comply with rules on reporting financial results, the bourses said in separate notices.

The exchanges will also suspend trading of UB Engineering Limited, part of Mallya's UB Group, from December 1, they said citing the company's failure to report financial results for two consecutive quarters to end-June.

Several other smaller companies are also facing trading suspension for the same reason, according to the stock exchange notices.

The companies can avert trading suspensions if they comply with the financial results reporting rules and pay required fines by November 25, the exchanges said on Friday, adding the founder holding in the companies had been freezed, effective from November 7.